Royalty Pharma (NASDAQ:RPRX) Stock Rating Upgraded by JPMorgan Chase & Co.

Royalty Pharma (NASDAQ:RPRXGet Rating) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Thursday, The Fly reports. The analysts noted that the move was a valuation call.

A number of other brokerages also recently weighed in on RPRX. StockNews.com began coverage on shares of Royalty Pharma in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley raised shares of Royalty Pharma from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $46.00 to $48.00 in a research note on Wednesday, April 6th. Finally, Zacks Investment Research lowered shares of Royalty Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $46.75.

RPRX opened at $42.44 on Thursday. The business has a 50 day moving average price of $39.29 and a two-hundred day moving average price of $39.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 16.81 and a quick ratio of 16.81. The company has a market capitalization of $25.77 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.74. Royalty Pharma has a 1-year low of $34.86 and a 1-year high of $47.10.

Royalty Pharma (NASDAQ:RPRXGet Rating) last posted its quarterly earnings data on Tuesday, February 15th. The biopharmaceutical company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. Royalty Pharma had a return on equity of 17.29% and a net margin of 27.07%. The company had revenue of $543.00 million for the quarter, compared to the consensus estimate of $543.50 million. During the same quarter in the previous year, the business earned $0.28 EPS. Equities analysts expect that Royalty Pharma will post 3.15 EPS for the current fiscal year.

In other news, Director Rory B. Riggs sold 129,222 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $39.55, for a total value of $5,110,730.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry A. Fernandez purchased 32,500 shares of the stock in a transaction dated Thursday, February 24th. The shares were acquired at an average price of $37.49 per share, for a total transaction of $1,218,425.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 229,089 shares of company stock worth $8,982,936. 25.86% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its position in Royalty Pharma by 0.5% in the third quarter. Arizona State Retirement System now owns 49,613 shares of the biopharmaceutical company’s stock worth $1,793,000 after acquiring an additional 246 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Royalty Pharma by 0.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 32,621 shares of the biopharmaceutical company’s stock worth $1,179,000 after purchasing an additional 265 shares in the last quarter. Humankind Investments LLC increased its position in Royalty Pharma by 4.6% during the fourth quarter. Humankind Investments LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 269 shares during the last quarter. Xponance Inc. raised its holdings in Royalty Pharma by 1.7% during the fourth quarter. Xponance Inc. now owns 23,175 shares of the biopharmaceutical company’s stock valued at $924,000 after buying an additional 381 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Royalty Pharma by 2.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,229 shares of the biopharmaceutical company’s stock worth $726,000 after buying an additional 399 shares during the last quarter. 43.78% of the stock is currently owned by hedge funds and other institutional investors.

About Royalty Pharma (Get Rating)

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.

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